The Trinidad and Tobago Olympic Committee (TTOC) as part of its new strategic marketing and brand management plan, is adopting an entrepreneurial, vibrant and dynamic market driven, new business development approach to revenue generation for its programmes and projects.
This includes the strategic vision to achieve 10 or more Olympic Gold medals by the year 2024. In an effort to support this marketing plan and vision, the TTOC has set up an in house marketing department that will handle the TTOC marketing, branding, new business and commercial development, merchandising and licensing programme.
The mandate of the TTOC marketing department is to break down barriers with new ideas and approaches. “As an organization we must always strive to celebrate and embrace disruptive thinking and challenge conventional wisdom,” said TTOC President Brian Lewis at the launch yesterday.
“This department will drive the TTOC’s business and commercial agenda, growth and value strategy. We are at a critical juncture, and it is of even greater importance for us to achieve financial independence and strength for the TTOC while at the same time maintaining the TTOC’s identity and not compromising its core Olympic values and ideals.”
For the Rio 2016 Olympic Games, the TTOC will be putting in place the required legal checks and balances to protect its Olympic franchise, including the TTOC, the Trinidad and Tobago (TTO ) Olympic Team and the legitimate TTOC Olympic sponsors and partners from opportunistic marketing and ambushers.
This effort comes as no surprise as sporting organizations including the TTOC move to protect their bottom lines. In highlighting the issue, Lewis stressed that the TTOC, has to ensure that cash flows into, not out of its coffers so that the organization can support not only athletes, but key projects and programmes that aim to develop sport in T&T.
“It’s one thing to understand what your brand stands for but it matters not unless you protect your brand. Defending your rights and what you stand for is central to what the Olympic movement is all about.
Ambush marketing is not a game. It’s a serious issue that can undermine the TTOC’s efforts to fund its 10 Gold medals by the year 2024 Athlete Welfare and Preparation programme and other programmes such as women in sport and sport for all.”
The Olympic Games is the world’s most valuable and important franchise. As the largest sporting event in the world it provides companies with a marketing opportunity unlike any other.
Moreover as a corporate marketing and promotional platform the five Olympic rings is considered one of the world’s most iconic, recognizable and valuable brand.